THE WELCH COMPANY
440 Davis Court #1602
San Francisco, CA 94111-2496
415 781 5700
April 18, 2003
02 05 01 61 03041801
Mr. Clay Tominaga
Manager Tennant Administrattion
Golden Gatweay Center
420 Davis Court
San Francisco, CA 94111
..
Subject:
Plan to Retire Debt on GGC Lease at 440 Davis Court #1602
GGC Notice to Pay Rent or Quit
Dear Clay,
Thank you for
calling today
and offering ideas to assist with a recent cash flow problem
that impacts our account with GGC, as further set out in
your notice
dated April 15.
..
This confirms our intentation to perform on the debt owed to GGC
and to retain occupacy at 440
Davis Court #1602, which commenced 25 years ago in 1977. As we discussed,
Welch can make a good faith payment of $200 and submit a specific plan in two
weeks on retiring outstanding amounts. This provides time to make progrfess on
current income initiatives, as
we discussed today, and shown by the attached record.
.. GGC's courtesy and consideration is greatly appreciated in working
through our cash flow problem.